Teledyne Technologies Incorporated (NYSE:TDY) Receives Consensus Recommendation of “Buy” from Brokerages

Teledyne Technologies Incorporated (NYSE:TDY) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $531.00.

TDY has been the topic of a number of research analyst reports. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, TD Cowen raised their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. The trade was a 21.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,525 shares of company stock worth $26,080,464 in the last three months. Corporate insiders own 2.14% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in Teledyne Technologies by 36.0% in the 4th quarter. GAMMA Investing LLC now owns 801 shares of the scientific and technical instruments company’s stock worth $372,000 after purchasing an additional 212 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares during the last quarter. Principal Financial Group Inc. grew its stake in Teledyne Technologies by 1.7% during the third quarter. Principal Financial Group Inc. now owns 55,849 shares of the scientific and technical instruments company’s stock valued at $24,443,000 after acquiring an additional 915 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Teledyne Technologies by 14.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,543 shares of the scientific and technical instruments company’s stock valued at $1,990,000 after acquiring an additional 563 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in Teledyne Technologies by 26.7% in the 3rd quarter. Tidal Investments LLC now owns 5,486 shares of the scientific and technical instruments company’s stock worth $2,401,000 after purchasing an additional 1,157 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $459.70 on Friday. The stock has a market cap of $21.42 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 3.30 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. Teledyne Technologies has a 1 year low of $355.41 and a 1 year high of $492.00. The firm’s 50-day moving average is $472.60 and its 200 day moving average is $437.56.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.05 earnings per share. Sell-side analysts anticipate that Teledyne Technologies will post 19.45 EPS for the current fiscal year.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.